AutoZone, Inc. (AZO) Expected to Post Earnings of $8.40 Per Share

Brokerages expect that AutoZone, Inc. (NYSE:AZO) will report $8.40 earnings per share for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for AutoZone’s earnings. The highest EPS estimate is $8.70 and the lowest is $7.70. AutoZone reported earnings per share of $8.08 during the same quarter last year, which indicates a positive year over year growth rate of 4%. The business is scheduled to report its next earnings report on Tuesday, February 27th.

On average, analysts expect that AutoZone will report full year earnings of $46.73 per share for the current year, with EPS estimates ranging from $45.20 to $48.35. For the next fiscal year, analysts anticipate that the business will report earnings of $51.45 per share, with EPS estimates ranging from $49.00 to $56.04. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow AutoZone.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 5th. The company reported $10.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.90 by $0.10. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. AutoZone had a negative return on equity of 78.83% and a net margin of 11.66%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.36 earnings per share.

A number of brokerages have recently commented on AZO. Wedbush restated a “hold” rating and issued a $580.00 target price (down previously from $590.00) on shares of AutoZone in a research note on Wednesday, September 20th. Citigroup reaffirmed a “buy” rating and issued a $700.00 price target on shares of AutoZone in a report on Wednesday, September 20th. UBS Group reaffirmed a “buy” rating and issued a $655.00 price target (down previously from $725.00) on shares of AutoZone in a report on Wednesday, September 20th. Barclays increased their price target on AutoZone from $710.00 to $800.00 in a report on Thursday, December 7th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $720.00 price target on shares of AutoZone in a report on Wednesday, December 6th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $717.24.

In other AutoZone news, VP Charles Pleas III sold 10,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $700.00, for a total value of $7,000,000.00. Following the completion of the sale, the vice president now owns 14,377 shares in the company, valued at approximately $10,063,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James C. Griffith sold 3,623 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $698.17, for a total transaction of $2,529,469.91. Following the completion of the sale, the insider now owns 2,016 shares of the company’s stock, valued at approximately $1,407,510.72. The disclosure for this sale can be found here. Insiders have sold 79,973 shares of company stock valued at $56,444,486 over the last 90 days. 2.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in AutoZone by 59.7% in the second quarter. JPMorgan Chase & Co. now owns 1,018,416 shares of the company’s stock worth $580,966,000 after purchasing an additional 380,824 shares in the last quarter. Nordea Investment Management AB increased its stake in AutoZone by 44.9% during the second quarter. Nordea Investment Management AB now owns 1,027,095 shares of the company’s stock worth $585,917,000 after acquiring an additional 318,188 shares during the last quarter. Koch Industries Inc. acquired a new stake in AutoZone during the second quarter worth $297,000. CI Global Investments Inc. increased its stake in AutoZone by 437.2% during the second quarter. CI Global Investments Inc. now owns 321,207 shares of the company’s stock worth $183,236,000 after acquiring an additional 261,417 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in AutoZone during the third quarter worth $141,811,000. Hedge funds and other institutional investors own 99.35% of the company’s stock.

Shares of AutoZone (AZO) opened at $707.00 on Thursday. AutoZone has a one year low of $491.13 and a one year high of $805.10. The company has a quick ratio of 0.14, a current ratio of 0.93 and a debt-to-equity ratio of -3.27. The company has a market capitalization of $19,440.00, a PE ratio of 15.75, a PEG ratio of 1.30 and a beta of 0.71.

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About AutoZone

Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.

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